November 14, 2024
United States:
US Producer Prices Rise, Risking Pressure in Fed’s Favored Gauge
US producer prices picked up in October, fueled in part by gains in portfolio management and other categories that feed into the Federal Reserve’s preferred inflation gauge.
The producer price index for final demand increased 0.2% from a month earlier after rising a revised 0.1% in September, Bureau of Labor Statistics data showed Thursday. Compared with a year ago, the PPI rose 2.4%.
Europe:
ECB’s Guindos Says Inflation Data Are Going in Right Direction
Euro-area consumer-price numbers are offering some encouragement for policymakers, according to European Central Bank Vice President Luis de Guindos.
“There’s good news with inflation and not so good news on economic growth,” he said in Madrid on Thursday. “We expect services inflation to slow down in the coming months. Our expectation of inflation evolution is that it will converge in a clear and stable manner towards price stability, 2%.”
Asia:
Japan Plans $192 Handouts for Low-Income Households in Package
Japanese Prime Minister Shigeru Ishiba’s government is planning ¥30,000 ($192) cash handouts to help low-income households cope with higher prices as it fleshes out the details of an upcoming economic package, according to the latest draft of the plans seen by Bloomberg.
In addition to the ¥30,000 handouts, the government plans to give low-income households an extra ¥20,000 per child, according to the updated proposals seen Thursday.
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